Which of the following taxpayers would benefit from itemizing on their 2018 tax return? Jordan (33),...
Which of the following taxpayers would benefit from itemizing on their 2018 tax return?
Jordan (33), Married Filing Separate, has itemized deductions that total $4,050. His wife, Susan, is itemizing on a separate return.
Abdul (42) and Paula (39), Married Filing Jointly, have itemized deductions that total $19,785.
Ronald (66), Single, has itemized deductions that total $11,400.
Elliot (47), Head of Household, has itemized deductions that total $15,256.
Homework Answers
Following are the standard deductions :
$12,000 if you are single or use married filing separate status
* $24,000 if you are a married joint-filer
. * $18,000 if you are a head of household
So none of the taxpayer get the benefit of itemized deduction.
Add Answer to:
Which of the following taxpayers would benefit from itemizing on
their 2018 tax return?
Jordan (33),...
Which of the following taxpayers would benefit from itemizing on their 2017 tax return? Jordan (33),...
Which of the following taxpayers would benefit from itemizing on their 2017 tax return? Jordan (33), Married Filing Separate, has itemized deductions that total $ 4,050. His wife, Susan, is itemizing on a separate return. Abdul (42) and Paula (39) Marrried Filing Jointly, have itemized deductions that total $ 10,570. Ronal (66) Single, has itemized deductions that total $ 6,400 Elliot (47) head of Household, has itemized deductions that total $ 8,250.
Which taxpayer is most likely to benefit by itemizing deductions on their 2019 return? None of...
Which taxpayer is most likely to benefit by itemizing deductions on their 2019 return? None of these individuals are blind. Alan (68), a single taxpayer with no dependents. His allowable itemized deductions are $13,620. o Cooper (31), a single taxpayer with no dependents. His allowable itemized deductions are $13,695. Gwen (65), who is unmarried are filing head of household. She has one dependent. Her allowable itemized deductions are $19,100. Zach (28), who is married and filing a joint return with...
Notes: in 2018 single taxpayers and married taxpayers who file separate returns can claim a $12,000...
Notes: in 2018 single taxpayers and married taxpayers who file separate returns can claim a $12,000 standard deduction. Married couples filing jointly can claim an amount that's twice as large, $24,000, and taxpayers filing as "head of household" (single individuals with dependents) can claim a standard deduction of $18,000. Question: Paul and Sonja, who are married, reported 2018 itemized deductions of $13,200 and $400, respectively. Paul suggests that they file their Federal income tax returns separately- he will itemize his...
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Compute the standard deduction for the following taxpayers. If an amount is zero, enter "0". a. Margie is 15 and claimed as a dependent by her parents. She reports $600 in dividends income and $2,880 in wages from a part-time job. $ b. Ruby and Woody are married and file a joint tax return. Ruby is age 66, and Woody is 69. Their taxable retirement income is $12,495. $ c. Shonda is age 68 and single. She is claimed by...
Compute the 2019 standard deduction for the following taxpayers. a. Ellie is 15 and claimed as...
Compute the 2019 standard deduction for the following taxpayers. a. Ellie is 15 and claimed as a dependent by her parents. She reports $1,700 in dividends income and $1,880 in wages from a part-time job. $ b. Ruby and Woody are married and file a joint tax return. Ruby is age 66, and Woody is 69. Their taxable retirement income is $12,170. $ c. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her...
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Compute the 2020 standard deduction for the following taxpayers. If an amount is zero, enter "0". Click here to access the standard deduction table to use. a. Ellie is 15 and claimed as a dependent by her parents. She has $1,550 in dividends income and $2,920 in wages from a part-time job. b. Ruby and Woody are married and file a joint tax return. Ruby is age 66, and Woody is 69. Their taxable retirement income is $11,910. c. Shonda...
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Which of the following taxpayers might benefit from filing Form 8379, Injured Spouse Allocation? * A. Claude misrepresented the amount of tax withheld when he filed a joint return with his wife, Claudia. B. Jennifer and Mike file a joint return which results in a refund that includes refundable credits. Jennifer earned $39,000. Mike was a stay-at-home dad and had no earned income. Mike owes back child support. C. Bud has earned income and files a joint return with his...
Which taxpayer is most likely to benefit by itemizing deductions on their 2019 return? None of these individuals are blind. Alan (68), a single taxpayer with no dependents. His allowable itemized deductions are $13,620. o Cooper (31), a single taxpayer with no dependents. His allowable itemized deductions are $13,695. Gwen (65), who is unmarried are filing head of household. She has one dependent. Her allowable itemized deductions are $19,100. Zach (28), who is married and filing a joint return with...
Compute the 2020 standard deduction for the following taxpayers. If an amount is zero, enter "0". Click here to access the standard deduction table to use. $ $ a. Ellie is 15 and claimed as a dependent by her parents. She has $500 in dividends income and $3,440 in wages from a part-time job. b. Ruby and Woody are married and file a joint tax return. Ruby is age 66, and Woody is 69. Their taxable retirement income is $11,325....
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